ResMed (NYSE:RMD) Upgraded to “Hold” at Rothschild & Co Redburn

ResMed (NYSE:RMD) was upgraded by equities research analysts at Rothschild & Co Redburn to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Jefferies Financial Group lowered their target price on shares of ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Mizuho reduced their price target on ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Weiss Ratings raised ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $230.00 target price (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, ResMed has an average rating of “Hold” and an average target price of $239.38.

ResMed Price Performance

ResMed stock opened at $230.84 on Wednesday. ResMed has a 12-month low of $180.26 and a 12-month high of $293.81. The stock has a market capitalization of $33.30 billion, a P/E ratio of 22.13, a P/E/G ratio of 1.38 and a beta of 0.76. The firm’s 50-day moving average is $205.75 and its two-hundred day moving average is $220.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.55 earnings per share. Equities analysts predict that ResMed will post 12.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares in the company, valued at $95,904,196.64. This represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the transaction, the director directly owned 52,773 shares in the company, valued at $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 22,973 shares of company stock worth $4,885,436. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently added to or reduced their stakes in RMD. Imprint Wealth LLC acquired a new stake in ResMed during the third quarter worth about $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed in the 2nd quarter valued at about $26,000. International Assets Investment Management LLC acquired a new position in shares of ResMed in the 4th quarter valued at about $25,000. Sunbelt Securities Inc. purchased a new stake in shares of ResMed during the 3rd quarter worth about $31,000. Finally, Bell Investment Advisors Inc purchased a new stake in shares of ResMed during the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.